Results 3,461-3,480 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Fines Administration (19 Jul 2016)

Michael Noonan: I am advised by Revenue that the terms of payment of a fine imposed by the Court, is a matter for the Courts Service. The person concerned was advised of this by Revenue, both by letter and by telephone, when a petition was made to them seeking mitigation of the fine amount.

Written Answers — Department of Finance: Banking Sector Regulation (19 Jul 2016)

Michael Noonan: I can confirm that the Department of Finance does not have access to the information requested by the Deputy. Officials in the Department of Finance have referred the Deputy's question to the bank and the bank has responded as follows: "Disclosures to the market in relation to Bank of Ireland products and services are provided in the Bank of Ireland Group Annual Results. Bank of...

Written Answers — Department of Finance: Drugs Crime (19 Jul 2016)

Michael Noonan: I am advised by Revenue that their Customs Service currently deploys seventeen detector dog teams nine of which have drug detection capabilities. I am advised by Revenue that as part of its risk focused approach to combatting illegal drugs importations, all ports and airports are monitored and evaluated from the point of view of potential for smuggling. Resources are deployed to areas of...

Written Answers — Department of Finance: Income Data (19 Jul 2016)

Michael Noonan: I am advised by Revenue that while Revenue holds information on ages of taxpayers, this information is not complete and therefore may not provide for a robust analysis of income by age bracket. In addition, I am further advised that Revenue's incomes data primarily reflects those cases in employment or self-employment and does not contain a complete picture of incomes from social welfare...

Written Answers — Department of Finance: Tax Collection (19 Jul 2016)

Michael Noonan: I am advised by Revenue that the persons in question failed to discharge a Capital Gains Tax liability in respect of the 2011 tax year. The overall liability included a surcharge amount as a consequence of the late filing of the Return. On foot of contact by Revenue, the persons paid the tax element of the overall liability, over the early months of 2013 but did not pay the surcharge...

Written Answers — Department of Finance: Fiscal Data (19 Jul 2016)

Michael Noonan: Estimates of fiscal space based on the expenditure benchmark are largely unaffected by changes in actual GDP. Instead, the relevant input is the estimate of the potential growth rate of the economy, as estimated by the European Commission each Spring.  The rationale for this is simple: budgetary policy should not be pro-cyclical. In other words, fiscal space should not increase...

Written Answers — Department of Finance: Excise Duties Yield (19 Jul 2016)

Michael Noonan: The Revenue Commissioners inform me that receipts for tobacco products tax for the first six months of 2016 amount to €608.2 million. This is 17.5% ahead of profile. The date for the commencement of standardised packaging in Ireland has not been announced. The Department of Health have said that the commencement of the required legislation is a priority. Therefore the current...

Written Answers — Department of Finance: Currency Exchange (19 Jul 2016)

Michael Noonan: In the Stability Programme Update, published last April, my Department estimated that, on the basis of the ESRI's HERMES model of the Irish economy, a 5 percentage point depreciation of sterling relative to the euro would increase the general government deficit by around ½ percentage point over the medium term.  The motivation for including this simulation in the...

Written Answers — Department of Finance: Tax Yield (19 Jul 2016)

Michael Noonan: As the Deputy will be aware, property owners who receive income from the provision of occasional guest accommodation should make a return of their taxable profits to Revenue and pay the resultant income tax, if any, under self-assessment rules in the normal manner. The provision of guest accommodation has never qualified for relief under the rent a room scheme. The Revenue operational...

Written Answers — Department of Finance: Tax Yield (19 Jul 2016)

Michael Noonan: I am informed by Revenue that the projected yield in Capital Acquisitions Tax to the Exchequer of capping the Dwelling House exemption could be in the region of €14 million and €10 million if the exemption was capped at €250,000 and €300,000 respectively, on the basis of the latest set of returns available to Revenue.

Written Answers — Department of Finance: Public Interest Directors (19 Jul 2016)

Michael Noonan: There is currently one public interest director serving on the boards of the covered banks. Tom Considine was nominated to the board of Bank of Ireland in January 2009 under the terms of the Credit Institutions (Financial Support) Act, 2008. There is no specified end date for this appointment. The fees paid to Mr Considine by Bank of Ireland in 2015 is set out in the following table....

Written Answers — Department of Finance: State Bodies Mergers (19 Jul 2016)

Michael Noonan: The Department is progressing the development of the legislation to underpin the amalgamation of the Financial Service Ombudsman and the Pensions Ombudsman. The previous Government agreed outline Heads of a Bill to provide for the amalgamation of offices in May of 2015 and both offices have already been physically merged in one location. Recent legislative changes have...

Written Answers — Department of Finance: Contingent Capital Notes (19 Jul 2016)

Michael Noonan: Yes, without question this repayment will proceed as planned. As the Deputy is aware, the Contingent Capital Note, or 'CoCo', which was issued by the State to AIB in July 2011, is a contractual commitment and is due to mature later this month. On July 28th, AIB will redeem the CoCo for its full value of €1.6bn, returning this capital to the State along with all interest outstanding....

Written Answers — Department of Finance: Central Bank of Ireland (19 Jul 2016)

Michael Noonan: The Central Bank has informed me that it cannot comment on authorisation applications or inquiries from individual firms. In respect of firms or funds potentially seeking to locate in Ireland, the Central Bank Deputy Governor (Financial Regulation) said the Bank remains committed to providing a clear, open and transparent authorisation process while ensuring a rigorous assessment of...

Written Answers — Department of Finance: Property Tax Collection (19 Jul 2016)

Michael Noonan: I am advised by Revenue that the Local Property Tax (LPT) compliance rate for 2016 currently stands at 95% and is comparable with previous years. Revenue has recently published detailed LPT statistics in respect of 2016, which can be accessed via the following link: .

Written Answers — Department of Finance: Tax Relief Data (19 Jul 2016)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 provides tax relief at a blended rate of 31% on donations made by individuals to eligible charities and other approved bodies. As the Deputy may be aware, changes were made to the scheme of tax relief for donations to approved bodies in Finance Act 2013 as follows: 1. Donations from all individual donors under the scheme are...

Written Answers — Department of Finance: Pension Provisions (19 Jul 2016)

Michael Noonan: Approved Retirement Funds (ARFs) are part of the flexible options at retirement introduced in Finance Act 1999 to provide control, flexibility and choice to the holders of personal pension plans and proprietary director members of occupational pension schemes in relation to the drawdown of their retirement benefits. Prior to that Act, any person taking a pension from a Defined Contribution...

Written Answers — Department of Finance: Stamp Duty (19 Jul 2016)

Michael Noonan: I am advised by Revenue that the outstanding measures in the Finance Act 2015 and previous Finance Acts which are subject to European Union approval are as follows: Exemption from Stamp Duty (Section 70 Finance (No. 2) Act 2013) Exemption from Stamp Duty on the transfer of shares of companies listed on the Enterprise Securities Market of the Irish Stock Exchange, remains subject to...

Written Answers — Department of Finance: Tax Code (19 Jul 2016)

Michael Noonan: I am informed by the Revenue Commissioners (Revenue) that a company that is, or intends to be, a qualifying company within the meaning of section 110 Taxes Consolidation Act 1997 must notify Revenue in writing. In notifying Revenue of such intent, the company confirms that it complies with the conditions attaching to a qualifying company. This notification is a self-assessment process.

Written Answers — Department of Finance: Tax Code (19 Jul 2016)

Michael Noonan: For the purposes of section 110 Taxes Consolidation Act, and with effect from the enactment of Finance Act 2003, qualifying asset is defined as an asset which consists of, or of an interest in, a financial asset, and financial asset is defined as:- - shares, bonds, and other securities; - futures, options, swaps, derivatives and similar instruments; - invoices and all types of...